When it comes to financial aid, the FAFSA is the most important document students AND parents fill out. Failure to fill out the FAFSA could mean leaving money on the table! LISD offers many opportunities for assistance in filling out the FAFSA, but in the meantime, here are the main points you need to know:
Required in order to receive federal and institutional student aid
Opens on Oct. 1st of the student's senior year
Student AND parent create an FSA ID, which will be used as electronic signatures required to submit the FAFSA online
Student is considered dependent unless they meet qualifying criteria
Takes into account many factors such as personal info, college attending, tax info (easily transferable using the IRS Data Retrieval Tool), and household size in order to calculate the student's Expected Family Contribution (EFC)
11 Common FAFSA mistakes: great information on why to fill out the FAFSA and some tips and tricks.
Complete the application at FAFSA.ed.gov. Students and parents can save progress when filling out, so it does not have to be completed in one sitting.